Issues Paper on the Regulation and Supervision of Mutuals, Cooperatives and other Community-based Organisations in increasing access to Insurance Markets

An IAIS survey identified Mutuals, Cooperatives and other Community-based Organisations (MCCOs) do play an important role to improve the effective provision of insurance services in some jurisdictions to groups of the population that would otherwise be underserved or not served at all. In 2008, cooperative and mutual insurance accounted for 24% percent of the total formal insurance market globally writing over one trillion USD in premiums, with substantial market shares in many countries. Although the paper is focused on MCCOs with respect to improving access to insurance for those that are underserved, it is recognized that such insurers can also become large, and can exist in markets providing the full range of both retail and commercial products and services to a broad range of clients.

This paper has been developed to advance discussion on the appropriate and effective regulation and supervision of MCCOs.